UBS Upgrades Spectranetics Corp to Buy with Price Target $30.00

Brokerage firm UBS Upgrades its rating on Spectranetics Corp(NASDAQ:SPNC). In a research note issued to the investors, the brokerage major Raises the price-target to $30.00 per share. The shares have been rated Buy. Previously, the analysts had a Sell rating on the shares. The rating by UBS was issued on Aug 3, 2016.

In a different note, Guggenheim Securities said it Initiates Coverage on Spectranetics Corp, according to a research note issued on Jun 9, 2016. The shares have been rated ‘Buy’ by the firm.

Spectranetics Corp (SPNC) shares turned negative on Fridays trading session with the shares closing down -0.46 points or -1.81% at a volume of 6,58,981. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $25.53. The peak price level was also seen at $25.53 while the days lowest was $24.49. Finally the shares closed at $24.93. The 52-week high of the shares is $25.81 while the 52-week low is $10.65. According to the latest information available, the market cap of the company is $1,071 M.

Spectranetics Corp(SPNC) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $67.75M. Analysts had an estimated revenue of $65.18M. Earnings per share were $-0.26. Analysts had estimated an EPS of $-0.27.

Several Insider Transactions has been reported to the SEC. On Nov 9, 2015, Scott William Drake (CEO) purchased 38,000 shares at $13.24 per share price.Also, On Nov 6, 2015, B Kristine Johnson (director) purchased 2,000 shares at $12.99 per share price.On Oct 29, 2015, R John Fletcher (director) purchased 8,240 shares at $12.04 per share price, according to the Form-4 filing with the securities and exchange commission.

The Spectranetics Corporation develops manufactures markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. The Company’s products are used to treat arterial blockages in the heart and legs and to remove pacemaker and defibrillator cardiac leads. The Company offers excimer laser system known as the CVX-300. Its Vascular Intervention business unit includes a range of peripheral and cardiac laser catheters for ablation of blockages in arteries above and below the knee (peripheral atherectomy) and within coronary arteries (coronary atherectomy); support catheters to facilitate crossing of coronary and peripheral arterial blockages (crossing solutions); and thrombectomy catheters for the removal of thrombus (thrombus management). The Company’s Lead Management business unit includes excimer laser sheaths non-laser sheaths and cardiac lead management accessories.

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